Dollar makes sharp gain to end at Rs171.63

Dollar makes sharp gain to end at Rs171.63

KARACHI: The US dollar made a gain of Rs1.12 against the Pak Rupee on Tuesday as import payment demand remained high during the day.

The rupee ended at Rs171.63 to the dollar from the previous day’s closing of Rs170.51 in the interbank foreign exchange market.

The dollar advanced against the local currency for the second straight trading session. Currency experts said that the rupee made recovery during the past week after Saudi pledge to assist Pakistan in balance of payment.

However, the dollar for the large import payment has once again started deterioration in the rupee value.

The import bill registered a growth of 65.15 per cent to $25.06 billion during July – October 2021 as compared with $15.17 billion in the same period of the last fiscal year, according to the PBS.